Stocks Fall as Peso Weakens Further
Investors remain cautious about buying Philippine shares due to the peso's struggle against the dollar, causing the local stock market to decline at the start of a shortened trading week.
The Philippine Stock Exchange index (PSEi) fell by 0.91 percent or 54.26 points to 5,933.76, while the broader All Shares index declined by 0.73 percent or 26.38 points to 3,581.73.
“The Philippine market declined by nearly one percent, as selling pressures persisted throughout the trading session,”
said Regina Capital Development Corp. head of sales Luis Limlingan, noting that investors were deterred by the peso's depreciation against the dollar.
Author's summary: Stocks decline due to peso's weakness.
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